SPS Commerce (NASDAQ:SPSC) Hits New 12-Month High at $164.24

SPS Commerce, Inc. (NASDAQ:SPSC – Get Rating)’s share price reached a new 52-week high on Friday . The stock traded as high as $164.24 and last traded at $163.92, with a volume of 28699 shares trading hands. The stock had previously closed at $159.59.

Wall Street Analyst Weigh In

SPSC has been the subject of a number of recent research reports. Needham & Company LLC reissued a “buy” rating and issued a $160.00 price objective on shares of SPS Commerce in a research note on Friday, March 3rd. StockNews.com initiated coverage on shares of SPS Commerce in a research note on Thursday, May 18th. They issued a “buy” rating for the company. Northland Securities boosted their price objective on shares of SPS Commerce from $151.00 to $154.00 in a research note on Thursday, April 27th. Craig Hallum boosted their price objective on shares of SPS Commerce from $160.00 to $165.00 in a research note on Thursday, April 27th. Finally, JMP Securities boosted their price objective on shares of SPS Commerce from $150.00 to $165.00 and gave the stock a “market outperform” rating in a research note on Friday, February 10th. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat, SPS Commerce presently has an average rating of “Moderate Buy” and a consensus target price of $157.50.

SPS Commerce Stock Up 2.1 %

The business has a 50-day moving average price of $151.28 and a 200-day moving average price of $141.65. The firm has a market capitalization of $5.96 billion, a price-to-earnings ratio of 104.80 and a beta of 0.78.

Insider Activity

In other news, Director Sven Wehrwein sold 1,000 shares of the business’s stock in a transaction on Tuesday, March 14th. The shares were sold at an average price of $145.37, for a total transaction of $145,370.00. Following the sale, the director now directly owns 17,684 shares of the company’s stock, valued at $2,570,723.08. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other SPS Commerce news, Director Sven Wehrwein sold 1,000 shares of the company’s stock in a transaction on Tuesday, March 14th. The shares were sold at an average price of $145.37, for a total value of $145,370.00. Following the sale, the director now directly owns 17,684 shares of the company’s stock, valued at $2,570,723.08. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Kimberly K. Nelson sold 3,600 shares of the company’s stock in a transaction on Monday, May 22nd. The shares were sold at an average price of $163.11, for a total transaction of $587,196.00. Following the completion of the sale, the chief financial officer now directly owns 148,734 shares in the company, valued at $24,260,002.74. The disclosure for this sale can be found here. Corporate insiders own 1.20% of the company’s stock.

Institutional Investors Weigh In On SPS Commerce

Several hedge funds have recently added to or reduced their stakes in the business. Altshuler Shaham Ltd acquired a new position in shares of SPS Commerce in the first quarter worth about $32,000. Belpointe Asset Management LLC acquired a new position in shares of SPS Commerce in the fourth quarter worth about $31,000. Ronald Blue Trust Inc. raised its position in shares of SPS Commerce by 1,792.3% in the first quarter. Ronald Blue Trust Inc. now owns 246 shares of the software maker’s stock worth $32,000 after acquiring an additional 233 shares during the period. Cullen Frost Bankers Inc. raised its position in shares of SPS Commerce by 74.2% in the first quarter. Cullen Frost Bankers Inc. now owns 270 shares of the software maker’s stock worth $41,000 after acquiring an additional 115 shares during the period. Finally, CWM LLC raised its position in shares of SPS Commerce by 40.8% in the fourth quarter. CWM LLC now owns 314 shares of the software maker’s stock worth $40,000 after acquiring an additional 91 shares during the period. 99.31% of the stock is owned by hedge funds and other institutional investors.

SPS Commerce Company Profile

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SPS Commerce, Inc provides cloud-based supply chain management services. The firm serves retailers, suppliers, grocers, distributors and logistics firms to orchestrate the management of item data, order fulfillment, inventory control and sales analytics across all channels. Its SPS Commerce cloud services platform offers Trading Partner Community, Fulfillment, Assortment, Analytics, Sourcing, and Other Trading Partner Solutions.